Is Your Retirement Plan Prepared with Taxes in Mind?

happy couple because they planned well for retirement with taxes in mind

Don’t assume that when you retire your tax liability automatically shrinks. You should start planning tax-efficient strategies now to ease your future tax burden in retirement. Taxes are one of the most overlooked challenges of retirement finances. We typically think about outliving our assets, the high cost of health insurance and nursing home care or…

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How Beneficiary Designations Can Doom Your Estate Plan

Dotting the i’s and crossing the t’s makes all the difference when it comes to estate plans. If beneficiary designations are not up-to-date, unintended individuals like ex-wives can end up with surprise gifts! Until all of the detail work has been done, your estate plan is not really complete. That includes funding accounts, retitling assets…

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Here’s What You Need to Know about Roth IRAs

Self-proclaimed experts can make your head spin with their bragging about how great their investments and retirement accounts are. There’s one in every crowd! You may encounter them at work or at family gatherings. These are people who insist on telling you how smart they are about avoiding taxes through retirement accounts. But before you…

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Retirement Planning Doesn’t Stop with Retirement

Being retired requires you to become the Chief Financial Officer of your own life. You need to manage your income, including Social Security, distributions from retirement accounts and any other sources and oversee investments. Most people think of retirement as the time that they don’t have to make a lot of decisions or work very…

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Deciding Factors for Different Types of IRAs

The different kinds of IRAs are complex but not impossible to understand. The biggest difference is all about the taxes. There are pros and cons for both traditional IRAs and Roth IRAs. It is possible that you might end up using both of them in your retirement planning. The important factors that you need to…

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